London Co. of Virginia lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 56.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,227,261 shares of the real estate investment trust’s stock after selling 1,613,847 shares during the quarter. London Co. of Virginia’s holdings in Crown Castle were worth $109,069,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CCI. Wiser Advisor Group LLC bought a new stake in Crown Castle during the 3rd quarter valued at $29,000. KERR FINANCIAL PLANNING Corp bought a new stake in Crown Castle during the 3rd quarter valued at $31,000. Triumph Capital Management bought a new stake in Crown Castle during the 3rd quarter valued at $31,000. Salomon & Ludwin LLC increased its stake in Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in Crown Castle during the 4th quarter valued at $39,000. Institutional investors own 90.77% of the company’s stock.
Crown Castle Stock Performance
Shares of NYSE:CCI opened at $88.13 on Wednesday. The company’s 50-day moving average is $89.16 and its 200 day moving average is $87.69. The company has a market capitalization of $38.46 billion, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 0.45 and a beta of 0.93. Crown Castle Inc. has a fifty-two week low of $75.96 and a fifty-two week high of $115.76.
Crown Castle Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s payout ratio is 175.62%.
Wall Street Analyst Weigh In
CCI has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. BMO Capital Markets lifted their price objective on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. KeyCorp lifted their price objective on shares of Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $85.00 price objective (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.52.
Check Out Our Latest Research Report on CCI
Crown Castle Company Profile
Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.
Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.
Further Reading
- Five stocks we like better than Crown Castle
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI – Free Report).
Receive News & Ratings for Crown Castle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle and related companies with MarketBeat.com's FREE daily email newsletter.
